Global coating demand is expected to reach 54.7 million tons by 2020

Date:

2020-05-06

Freedonia Group, a US market research organization, recently released an analysis report, predicting that the global demand for coatings will grow at a rate of 3.7 per cent a year and will reach 54.7 million tons in 2020, when the market value will reach $193 billion. Affected by the strong economic growth in developing regions, especially in the Asia-Pacific region, the good situation in the construction sector will stimulate the sales of architectural coatings. At the same time, the increased investment in manufacturing and infrastructure in the region will further promote the application of industrial coatings in vehicles, furniture, ships, highways, bridges and other fields, and coating manufacturers will gain business opportunities. however,

Freedonia Group, a U.S. market research organization, recently released an analysis that predicts that global demand for coatings will increase by 3.7 percent per year.The rate of growth, and will be 2020It will reach 54.7 million tons annually, and the market value will reach 193 billion US dollars by then.

Affected by the strong economic growth in developing regions, especially in the Asia-Pacific region, the good situation in the construction sector will stimulate the sales of architectural coatings. At the same time, the increased investment in manufacturing and infrastructure in the region will further promote the application of industrial coatings in vehicles, furniture, ships, highways, bridges and other fields, and coating manufacturers will gain business opportunities.

However, analysts Carolyn Zulandt believe that due to the growth of demand for high quality coatings in developed and developing regions, the requirements for construction technology are higher, which affects the overall income of the coating industry. Reducing coating production is a necessary measure to realize the structural adjustment of coating products. It is worth noting that China's economic growth has slowed significantly and construction investment has shrunk, which will also curb the overall growth momentum.

The fastest growing is India, where rapid expansion of investment to build or renovate residential, commercial and industrial facilities to stimulate demand for coatings. China, which occupies almost half of the global coating market, will continue to stimulate the demand for architectural coatings due to the gradual expansion of the middle class. In addition, the good situation of the manufacturing industry also boosts the demand for industrial coatings.

For developed countries, the United States is outstanding in construction and fixed investment spending, while Western Europe is affected by the economic boost and the recovery of the construction sector, its paint sales will also usher in a turnaround.

Under the pressure of increasingly stringent regulations, coating manufacturers around the world will continue to work to reduce the VOC content of their products. Therefore, water-based coatings and powder coatings will gradually replace solvent-based coatings, especially in China, where environmental regulations are increasingly stringent. However, solvent-based coatings will still dominate in some special applications, such as marine coatings, automotive coatings, anti-corrosion coatings, etc.

Green development into the mainstream, paint enterprises to enter the environmental protection